Mongolian mining giant and RRU sign agreement
A consulting project in Mongolia will be a golden opportunity for five new Bachelor of Commerce graduates from Royal Roads University.
The project is a first under a new agreement, signed in October, between RRU and Oyu Tolgoi LLC (OT), the company developing a mine on one of the world’s largest copper-gold resources, located in Mongolia’s South Gobi region. The team will be working with three local small and medium enterprises (SME) to assist with their supply chain management and business development requirements so that they can become suppliers to OT. During the month-long project, they will help develop business plans and assessments of the local markets so the companies are not entirely dependent on OT for their continued operations.
“The Oyu Tolgoi agreement offers our graduates an exciting opportunity to apply their learning and invest their knowledge in a global context in a region of significant potential for the BC economy,” said Steve Grundy, vice president academic and provost at RRU. Natural Resources Canada estimates that Canadian companies have about $400 million in assets in Mongolia.
The graduates were chosen by the Eric C. Douglass Centre for Entrepreneurial Studies (ECDC) at RRU, which will cover travel costs from Canada to Ulaanbaatar, Mongolia. The graduates leaving this week are Laura Dohan and Sarah Campbell from Victoria; Christian Mundhenk from Kamloops; Lyndsay Cliche from Calgary; and Matt Antwright from Edmonton. “Coaching small businesses is a terrific application of the business planning skills honed in our bachelor of commerce program which is focused specifically on entrepreneurial management,” said Geoff Archer, RRU faculty member and director of ECDC.
Oyu Tolgoi LLC is Mongolia's largest copper and gold mining company and is a strategic partnership between the Government of Mongolia (34 per cent stake), Turquoise Hill Resources (66 per cent) and Rio Tinto. Rio Tinto is the major shareholder in Turquoise Hill Resources and the manager of the Oyu Tolgoi project.